Monday, July 30, 2007

Back to CSR - ITC's AGM Speech

Some time back I had written about the AGM Speech of HUL and its focus on CSR. On 27th July the AGM speech by Y.C. Deveshwar of ITC had the heading 'Making Markets Work for CSR'. The AGM speech of two of our major FMCG companies has CSR as the main focus. This makes one think why is the sudden interest on CSR in the country??? To be fair to ITC, the company has not tried to fit CSR and social benefit into the cigarettes that it sells as was the case with HUL. Y.C. Deveshwar in its AGM speech has spoken more about their ITC echoupal and other initiative in the rural areas in the country. The speech touched upon the returns that a company would or should expect from the CSR initiatives, and how market forces should make CSR a crucial component of share holder value creation so that these initiatives are driven by market forces and not inspired by corporate conscience alone. One can listen to the audio files or watch on demand video of the speech on their website.

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